Is Ethereum Expected to Drop Below $2,800?

The cryptocurrency market is in a frenzy! Ethereum , the second-largest crypto asset, is walking a tightrope. Traders are warning that this blockchain giant may soon experience a free fall and drop below the $2,800 mark.

Michael Van de Poppe, a leading market analyst, has raised the alarm. He predicts that if Ethereum loses this critical level, it could fall another 4%. But the disaster doesn’t stop there! Van de Poppe warns that this drop could also drag Bitcoin below $60,000.

Other traders are anxiously eyeing the upcoming ETF developments. Some even speculate that Ethereum’s price might fall below $2,800 before any potential recovery.

Currently, Ethereum is struggling at $2,900. This figure represents a significant 11% decline since July 28. Investors are watching this downward trend with concern.

However, the story is more complicated! Ethereum spot ETF funds have shown mixed behavior over the past week. These funds have been fluctuating between attracting new investments and experiencing capital outflows, reflecting market uncertainty.

The cryptocurrency market once again proves it’s not for the faint-hearted. Investors and traders need to stay alert and prepare for every scenario. Can Ethereum overcome this crisis, or will we witness a historic fall? The coming days will be decisive!